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Iran denounces ‘illegal’ US sanctions as oil waivers end

Iran denounces ‘illegal’ US sanctions as oil waivers end thumbnail

Iran denounced US sanctions on its oil sector as “illegal” on Monday after the United States announced it will no longer grant sanctions exemptions to Iran’s oil customers.

“Since the sanctions in question are principally illegal, the Islamic Republic of Iran did not and does not attach any value or credibility to the waivers given to the sanctions,” the Iranian foreign ministry said in a statement issued on its official website.

The US on Monday told five countries – Japan, South Korea, Turkey, China and India – that they will no longer be exempt from US sanctions if they continue to import oil from Iran after their waivers end on May 2.

Tehran remained defiant over Washington’s decision, saying it was prepared for the end of waivers, while the Revolutionary Guards repeated their threat to close the Strait of Hormuz, a major oil shipment channel in the Gulf, Reuters news agency reported, citing Iranian media.

The Iranian foreign ministry said Iran was in “constant talks with its international partners including the Europeans” on the ending of the exemptions. It added that a “necessary decision” will be announced later, without elaborating.

The Trump administration granted eight oil sanctions waivers when it reimposed sanctions on Iran after President Donald Trump pulled the US out of the landmark 2015 nuclear deal. They were granted in part to give those countries more time to find alternate energy sources but also to prevent a shock to global oil markets from the sudden removal of Iranian crude.

Since November, three of the eight countries receiving waivers – Italy, Greece and Taiwan – have stopped importing oil from Iran.

Secretary of State Mike Pompeo insisted that the US would punish countries that buy Iranian oil after May 2, without spelling out the scope of the sanctions.


US will not reissue waivers for Iran oil imports

“We’ve made clear – if you don’t abide by this, there will be sanctions,” Pompeo told reporters. “We intend to enforce the sanctions.”

A senior Trump administration official, briefing US reporters on the condition of anonymity on Monday, said any move by Iran to close the Strait of Hormuz in response to the US move would be unjustified and unacceptable.

The official said the administration is now looking at ways to prevent Iran from circumventing existing oil sanctions.

Turkey: US decision will ‘harm Iranian people’

Turkey slammed the US decision, saying it will “harm the Iranian people” and will not “serve regional peace and stability”.

Ankara “rejects unilateral sanctions and impositions on how we build our relationship with our neighbours,” Turkish Foreign Minister Mevlut Cavusoglu tweeted. “The US decision … will harm Iranian people,” he added.

Geng Shuang, a Chinese foreign ministry spokesman, said at a daily news briefing in Beijing on Monday that it opposed unilateral US sanctions against Iran and that China’s bilateral cooperation with Iran was in accordance with the law.

South Korea‘s Yonhap news agency quoted the foreign ministry as saying the South Korean government had been negotiating with the US at all levels to extend the waivers and that it would continue to make every effort to reflect Seoul’s position until the May 2 deadline.

In India, refiners have started a search for alternative supplies but the government declined to comment officially.

Embassies of India, China and South Korea in Washington did not immediately respond to requests for comment, along with Japan, whose Prime Minister Shinzo Abe will be in the US capital on Friday for an official visit.

The Trump administration said it was working with top oil exporters Saudi Arabia and the United Arab Emirates to ensure the oil market was “adequately supplied” but the market, already fretting about tight supplies, raised scepticism about whether Riyadh could take a slower approach in boosting exports.

The international Brent crude oil benchmark rose to more than $74 a barrel on Monday, highest since November, due to the uncertainty surrounding increased supply from Saudi Arabia and other OPEC nations, while US prices hit a peak of $65.99 a barrel for the first time since October 2018.

“Combined with declines in global crude stocks, continued losses in Venezuela production as well as a possible disruption in Libya, a zero-waivers Iran decision will present a challenge to keeping global oil prices in check,” Joe McMonigle of Hedgeye Risk Management said in a note to clients.

SOURCE: Al Jazeera and news agencies

24 Comments on "Iran denounces ‘illegal’ US sanctions as oil waivers end"

  1. Gaia on Mon, 22nd Apr 2019 5:08 pm 

    Iran should continue to sell oil to its customers. They don’t need the US government’s permission.

  2. Gaia on Mon, 22nd Apr 2019 8:13 pm 

    All of America’s military weapons should be dismantled and sold for scrap.

  3. Anonymouse on Tue, 23rd Apr 2019 2:09 pm 

    Delusional Davy must be with his goats right now, or else he would be complaining about your evil anti-amerikan extremism Juan, errr, I mean Gaia.

    Dont worry, I am sure once he gets finished with the goats and he collects his (one) thought, he will accuse you of being a JuanP sock and or a playboy millionaire.

    And yes, fuck amerika and its ‘sanctions’. They are indeed ‘illegal’, completly. Not sure why al-J chose to highlight ‘illegal’ in the manner they did. It is a statement of fact, and requires no special emphasis. Unless the editors are attempting to imply there is something false and or misleading about Iran’s use and understanding of the meaning of ‘Illegal’ in this context.

  4. Davy on Tue, 23rd Apr 2019 2:29 pm 

    Lol, annoymouse, you and gaiiia are kanada’s finest. We are in wonderment over the depth of you intellect and the spaciousness of your wit.

  5. Anonymouse on Tue, 23rd Apr 2019 3:11 pm 

    Looks like Davyturd is done with the goats now.

    So, who is this ‘we’ dumbass? You can only mean you and I AM THE DAVYMOB? Or you and CloggJude perhaps? That is about as far as you push ‘we’ in this context exceptionaltard, and even that that is pushing it. The scope of this ‘we’ is going to damn narrow for you, because no one else here has any use for you. You are the most despised ‘thing’ here at, by far.

    You’ve been told this many times before, but your memory, like your ‘intelligence’ is both selective and defective.

    Say “I find” not “We find”. Sock-buddies such as, I AM THE DAVYMOB, ‘Sum’ ‘Not Davy’ etc, do not count, as much as you’d like to believe otherwise.


  6. makati1 on Tue, 23rd Apr 2019 7:22 pm 

    Anon, as a child, when you don’t have friends, you invent them. Isn’t that something a nine year old would do? Davy has no friends so he has to invent sock puppets that “side” with his warped view of the world. Pathetic/psychotic!

  7. Davy on Wed, 24th Apr 2019 5:01 am 

    makato, how was the earthquake? You are always telling us all the play by play with American disasters.

  8. Robert Inget on Wed, 24th Apr 2019 9:34 am 

    Gaia, thank you for being civil.

    As I wrote before, Trump is TRYING to get impeached. The man is coming unglued.

    By forcing Turkey, South Korea, possibly Japan, allies to break sanctions, Trump’s putting our entire economy on the black square. Trump may be the only so called billionaire to take a
    casino bankrupt. Now he almost forces energy
    starved India, China, Vietnam over to the dark side. (trading crude in yuan, euros and magical cyber ‘coin’) instead of USD.

    The US can only maintain the sort of debt we do because USD is used to determine the price of everything (and the value of nothing).

    Trump’s word is as worthless in Europe as it is in Asia.

  9. Robert Inget on Wed, 24th Apr 2019 9:39 am 

    (demand strong)

    Summary of Weekly Petroleum Data for the week ending April 19, 2019

    U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week ending April 19, 2019, which was 505,000 barrels per day more than the previous week’s average. Refineries operated at 90.1% of their operable capacity last week. Gasoline production decreased last week, averaging 9.8 million barrels per day. Distillate fuel production increased last week, averaging 5.1 million barrels per day.

    U.S. crude oil imports averaged 7.1 million barrels per day last week, up by 1,157,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.6 million barrels per day, 19.6% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 905,000 barrels per day, and distillate fuel imports averaged 245,000 barrels per day.

    U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.5 million barrels from the previous week. At 460.6 million barrels, U.S. crude oil inventories are at the five year average for this time of year. Total motor gasoline inventories decreased by 2.1 million barrels last week and are about 2% below the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week. Distillate fuel inventories decreased by 0.7 million barrels last week and are about 6% below the five year average for this time of year. Propane/propylene inventories increased by 1.0 million barrels last week and are about 21% above the five year average for this time of year. Total commercial petroleum inventories increased last week by 8.8 million barrels last week.

    Total products supplied over the last four-week period averaged 20.2 million barrels per day, down by 1.0% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.4 million barrels per day, up by 0.9% from the same period last year. Distillate fuel product supplied averaged 3.8 million barrels per day over the past four weeks, down by 6.7% from the same period last year. Jet fuel product supplied was up 0.7% compared with the same four-week period last year.

  10. Sissyfuss on Wed, 24th Apr 2019 9:55 am 

    Trumps tunnel vision on getting Iran can do permanent damage to the global economy by raising the price of oil to a devastating mark that will cripple trade and force commodity prices to become unaffordable. Or worse yet, he could start WW111 if Iran blockades the Straits of Hormuz and Trumps actions to reopen them force the hand of China and Russia. Trump is a spoiled child with his hand on the button. Only a corrupt and money mad govt could allow this to take place. Yup, we got that.

  11. Gaia on Wed, 24th Apr 2019 10:25 am 

    Our world is better off without war. Karma will come to those who cause suffering to the world.

  12. Gaia on Wed, 24th Apr 2019 10:29 am 

    Iran was attacked in the 1980s by Iraq with the help of the US government (There is a photo of Donald Rumsfeld shaking hands with the late Saddam Hussein). Do any Americans remember this?

  13. Gaia on Wed, 24th Apr 2019 10:41 am 

    All war is hell.

  14. Robert Inget on Wed, 24th Apr 2019 11:15 am 

    Iraq is saying it can make up Iran’s deficits in China, India, S. Korea, Vietnam, Turkey etc.
    Seeing as how Iraq is already dancing as fast as they can, one needs to wonder if OPEC’s PR people are just suckering in Trump and his criminal cabal.
    Fighting over market share seems inevitable.
    Yeah, tell en what we want to hear. ‘Cut Iran’s exports to zero and still have all the oil we need’.

    ” Fine mix of hallucinogenics, crude consumers, just stop Bogarting (our) hookah”

    The truth is simple but not easily solved.
    1) Humpty Dumpty Venezuela is broken.
    2) Iran must be teased into a military response to justify Saudi Arabia and Israel attacking.
    3) Serious pipeline shortage from America’s near Northern neighbor. This brings me to;
    3.5) Shale crude ain’t heavy enough, besides tight oil is THE poster child for “finite”.

  15. Cloggie on Wed, 24th Apr 2019 11:26 am 

    Iraq is saying it can make up Iran’s deficits in China, India, S. Korea, Vietnam, Turkey etc.

    Of course they can.LOL–complete

  16. Gaia on Wed, 24th Apr 2019 1:23 pm 

    America as a whole is insane.

  17. makati1 on Wed, 24th Apr 2019 6:11 pm 

    Totally agree Gaia. The best examples are located inside the DC Beltway. And we have our own examples here on PO. Delusional Davy, MOB (the suicidal millennial), and others not so blatant.

    Millions of “Amerikans” graduating from High School that cannot read beyond a 3rd grade level and cannot comprehend what they are reading. A “new” math that says 2+2=5 (used frequently to make up statistics). History is anything that happened a minute ago, but is open to “interpretation” depending on who is teaching/talking/Tweeting (Creation vs Evolution), etc. The list of examples is endless.

    The frogs cannot see that they are in the pot and the temperature is rising. So be it. I hope the crash comes before they can start WW3 with missiles. It is being fought with money and computers at this point but…? We shall see. Get out of Dodge now, if you can. It will never be easier.

  18. makati1 on Wed, 24th Apr 2019 6:22 pm 

    Cloggie, Europe is going down the shitter as fast as, if not faster than, the US. The empire has decided that the next big war will be in your country…again. If the EU holds together, it should kick out NATO and cozy up to Russia and China. Otherwise, it will be sent into the Dark Ages…again. (If you are lucky).

    The next big one will not be fought on the ground, but with missiles. Take out the electric system and wait for the population to die. Ditto for the US, if it is involved. An EMP over Paris and/or St.Louis would do it in a flash. No direct damage to buildings or people. Just a slow death from starvation and exposure.

  19. Gaia on Wed, 24th Apr 2019 6:32 pm 

    The US would be better off with a coalition government instead of a bipartisan government.

  20. Gaia on Wed, 24th Apr 2019 6:46 pm 

    Europe and the US will not win WWIII.

  21. Gaia on Wed, 24th Apr 2019 7:13 pm 

    To put an end to the American Empire, take out its electrical grid. No damage to its buildings or people.

  22. Cloggie on Thu, 25th Apr 2019 3:24 am 

    Europe and the US will not win WWIII.

    Another North-American thinking that Americans and Europeans will be fighting shoulder to shoulder. Not going to happen.

    Yes, it would happen if Russians and/or Chinese would attack mainland Europe or America.

    But that’s not going to happen.

    What very well COULD happen is that China has enough of Anglo navies, parading for its doorstep:

    Europe is under no obligation to help the Americans “police the South China Sea” and won’t.

    The South China Sea is the most likely hot spot for a major conflict to erupt. Iran is second.

    Iran sinking a US carrier in the Gulf won’t trigger NATO article 5.

  23. makati1 on Thu, 25th Apr 2019 3:35 am 

    First, China is not going to “attack” anyone. Ditto fir Russia, unless pushed to retaliate. They don’t have to. All they have to do is wait for the West to finish it’s collapse. Then they can pick up the pieces. I doubt BAU for the West will last much longer. I fully expect to see its demise, and I am 75. I’m prepared for it. Are you?

  24. Davy on Thu, 25th Apr 2019 5:19 am 

    “I doubt BAU for the West will last much longer. I fully expect to see its demise, and I am 75. I’m prepared for it. Are you?”

    But you think it will in Asia is your point? LOL. makato, you are 75 and almost dead are you prepared for that?

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